SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table presents revenue by reportable segment:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Revenue:
Domestic
Ads and Leads	$	962,601	$	1,124,908	$	1,282,061
Services	93,521		118,033		381,256
Total Domestic	1,056,122		1,242,941		1,663,317
International	128,990		115,807		101,038
Total	$	1,185,112	$	1,358,748	$	1,764,355

The following table presents the significant expenses included in the Company’s segment reporting performance measure, Segment Adjusted EBITDA, that are regularly provided to the CODM:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Domestic (a)
Consumer marketing expense (b)	$	309,139	$	435,620	$	520,744
Professional acquisition expense (c)	233,645		274,209		296,374
Fixed expense (d)	206,687		212,837		226,030
Variable expense (e)	124,150		155,776		218,644
Cost of revenue (f)	53,139		59,095		334,565
Total Domestic expenses	926,760		1,137,537		1,596,357
International
Fixed expense (d)	51,393		48,422		46,064
Professional acquisition expense (c)	22,326		21,769		21,418
Variable expense (e)	19,533		16,184		10,902
Consumer marketing expense (b)	15,346		12,906		20,304
Cost of revenue (f)	4,439		3,452		2,831
Total International expenses	113,037		102,733		101,519
Total expenses	$	1,039,797	$	1,240,270	$	1,697,876

_____________________

(a) Domestic expenses are provided in total to the CODM rather than at the segment level.

(b) Consumer marketing expense includes (i) advertising expenditures to promote the brand to consumers with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to our brands, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising, (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for consumer marketing personnel and (iii) outsourced personnel costs.

(c) Professional acquisition expense includes (i) advertising expenditures to promote the brand to professionals with (a) online marketing, including fees paid to search engines and other online marketing platforms, partners who direct traffic to the brands within the Angi segment, and app platforms, and (b) offline marketing, which is primarily television, streaming and radio advertising and (ii) compensation expense, excluding stock-based compensation, and other employee-related costs for professional acquisition sales and marketing personnel.

(d) Fixed expense includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in (a) the design, development, testing, and enhancement of product offerings and related technology and (b) executive management, finance, legal, tax, marketing and human resources functions, (ii) software license and maintenance costs, (iii) rent expense and facilities costs (including impairments of ROU assets), (iv) fees for professional services and (iv) outsourced personnel costs for personnel engaged in product development.

(e) Variable expense includes (i) compensation expense, excluding stock-based compensation, and other employee-related costs for personnel engaged in customer service functions, (ii) provision for credit losses, (iii) outsourced personnel costs for personnel engaged in assisting in customer service functions and (iv) service guarantee expense.

(f) Cost of revenue consists primarily of (i) credit card processing fees, (ii) hosting fees and (iii) payments made to independent third-party professionals who perform work.

Schedule of Segmented Revenue Disaggregated by Service

The following table presents the revenue of the Company’s segments disaggregated by type of service:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Domestic
Ads and Leads:
Consumer connection revenue	$	606,560	$	781,089	$	954,735
Advertising revenue	312,281		290,799		265,466
Membership subscription revenue	43,076		52,305		60,411
Other revenue	684		715		1,449
Total Ads and Leads revenue	962,601		1,124,908		1,282,061
Services revenue	93,521		118,033		381,256
Total Domestic revenue	1,056,122		1,242,941		1,663,317
International
Consumer connection revenue	106,324		92,635		71,851
Membership subscription revenue	21,709		22,548		28,192
Other revenue	957		624		995
Total International revenue	128,990		115,807		101,038
Total revenue	$	1,185,112	$	1,358,748	$	1,764,355

Schedule of Reconciliation of Adjusted EBITDA to Operating Income (Loss)

The following table presents a summary of Segment Adjusted EBITDA:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Segment Adjusted EBITDA
Domestic
Ads and Leads	$	180,334	$	147,357	$	168,952
Services	4,469		8,123		(52,126)
Other(g)	(55,441)		(50,076)		(49,866)
Total Domestic	129,362		105,404		66,960
International	15,953		13,074		(481)
Total Segment Adjusted EBITDA	$	145,315	$	118,478	$	66,479

The following table reconciles total Segment Adjusted EBITDA to earnings (loss) from continuing operations before income taxes:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Total Segment Adjusted EBITDA	$	145,315	$	118,478	$	66,479
Stock-based compensation expense	(34,778)		(43,414)		(50,802)
Depreciation	(86,052)		(93,604)		(77,523)
Amortization of intangibles	(2,600)		(7,958)		(13,774)
Interest expense	(20,169)		(20,137)		(20,107)
Other income, net	18,361		18,427		1,169
Earnings (loss) from continuing operations before income taxes	$	20,077	$	(28,208)	$	(94,558)

_____________________

(g) Other comprises unallocated corporate expenses.

Schedule of Capital Expenditures by Segment

The following table presents capital expenditures by as viewed by the CODM:

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Capital expenditures:
Ads and Leads	$	48,139	$	44,692	$	76,786
Services	2,337		2,551		35,833
International	16		537		2,860
Total	$	50,492	$	47,780	$	115,479

Schedule of Revenue by Geographic Areas

Geographic information about revenue and long-lived assets is presented below. Revenue by geography is based on where the customer is located.

	Year Ended December 31,
	2024		2023		2022
	(In thousands)
Revenue
United States	$	1,055,841	$	1,242,092	$	1,660,373
All other countries	129,271		116,656		103,982
Total	$	1,185,112	$	1,358,748	$	1,764,355

Schedule of Long-lived Assets by Geographic Areas

	December 31, 2024		December 31, 2023
	(In thousands)
Long-lived assets (excluding goodwill and intangible assets):
United States	$	104,290	$	145,710
All other countries	5,692		9,788
Total	$	109,982	$	155,498